China Resources Logic said it could achieve a turnaround for the full year after shifting its business focus to China's high-growth consumer markets. The company, which has sustained a combined loss of HK$489.43 million over the past five years from its former core business of office-furniture making, releases interim results today. Chairman Song Lin said CR Logic would apply a 'population-driven' strategy by targeting consumer markets experiencing rapid growth. The red chip diversified into production of air-conditioner compressors and integrated circuit (IC) chips for consumer electronic products in an asset restructuring at the beginning of the year. The Foreign Trade Ministry-backed China Resources (Holdings) (CRH) is the red chip's largest shareholder, with a 74.4 per cent stake. CR Logic, which is intended to be CRH's technology arm, has mapped out its plan for future growth. Mr Song said the compressor and IC chip manufacturing would be its core businesses. 'Our recipe is to adopt internationally advanced technology in our products and market them the Chinese market-friendly way,' Mr Song said. The IC chip business would try to partner with leading foreign industry players and co-develop the fast-growing domestic market. The country's semiconductor sales revenue surged 78 per cent to US$11.7 billion last year, and is projected to grow 30 per cent a year until 2004, BNP Paribas Peregrine said in a recent report. About 80 per cent of the demand had to be satisfied with imports because the country's IC manufacturing and design industry was still at the fledgling stage. Mr Song said the company's air-conditioner compressor business, which has adopted technology from the Sanyo company in Japan, would account for about 80 per cent of its turnover this year.